Lucas Silva is consider one of the jewels of the Brazilian academy(Reuters)

Cruzeiro president Gilvan de Pinho Tavares has confirmed the Brazilian outfit are likely to sell coveted player Lucas Silva during the January transfer window should any club meet his £12m demands.

The 21-year-old midfielder is a regular for the Brazil national youth teams and being considered one of the jewels of the prolific Brazilian academy. He has reportedly attracted the attention of a number of big Europea clubs – including Real Madrid, Manchester United and Arsenal.

Meanwhile, reports in Spain claimed Real Madrid have identified him to replace Sami Khedira - as the Germany international is expected to leave the Santiago Bernabeu either in the January transfer window for a cut-price deal or in the summer, once his contract at Los Blancos will expire.

Reports in Spain recently claimed that even though Real Madrid are in pole position to secure his services, Arsenal manager Arsene Wenger is also closely monitoring the Brazilian starlet, as he is looking for a long-term replacement to Mikel Arteta, especially following the Spaniard's latest injury.

The Cruzeiro president has admitted there is interest from both Spanish and English clubs and claimed they are willing to sell the player should any side meet their demands.

According to AS, Tavares said: "There's no definitive offer yet – we're waiting to receive a formal offer but we have already set a price for the player, based on his market value; for any figure lower than €15m, Cruzeiro is not willing to negotiate."